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NEW CORN RECCO DAY 1: On past advice we’re 50% sold at an average cash price just over $5. With basis already better than average and likely to firm, set a target of 484 in December futures for selling another 10% and an additional 15% if December hits 498. These are just below chart resistance areas and will take sales to 75% when executed.   OPTIONAL RECCO TACTIC: If this plan to get to 75% sold at those prices is too aggressive for you, consider buying 510 March call options on 25% now. (They will only get more expensive if you wait until the pricing targets are hit.) We call these “courage calls.” Why? Because they give you the courage to follow a scale-up selling plan by offering “protection” for potential “opportunity cost” at a fixed cost (the option premium) if prices rally for whatever reasons well beyond these pending sales triggers.   On the Grains: Overnight trade is steady to firm. Soybeans again lead the way after yesterday’s sharp rebound and this time even wheat is steady to firm on its coattails.   Weekly grain inspections reported yesterday morning were mostly uneventful, all falling well within the range of…

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